First American Mortgage Rates, Fees & Info

YUKON, OK

LEI: 5493006KM0C07F0DE248

Tax ID: 73-1432800

5 stars - out of 5 stars, based on 17 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    First American Mortgage is a smaller mortgage company specializing in loans. First American Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Oklahoma City, Weatherford, Tulsa, Shawnee, and Lawton among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First American Mortgage has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. First American Mortgage is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.76% 3/27/23
    30 Year Conventional Refi 6.76% 3/27/23
    30 Year Cash-out Refi 6.87% 3/27/23
    30 Year FHA Purchase 7.60% 3/27/23
    30 Year FHA Refi 6.65% 3/27/23
    30 Year VA Purchase 6.10% 3/27/23
    30 Year USDA Purchase 7.79% 3/27/23
    15 Year Conventional Purchase 6.16% 3/27/23
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.


    Originations

    285

    Origination Dollar Volume (All Markets)

    $72,895,000

    Awards

    FIRST AMERICAN MORTGAGE 30 Year Conventional Loans gold FIRST AMERICAN MORTGAGE FHA Loans silver FIRST AMERICAN MORTGAGE FHA Loans silver FIRST AMERICAN MORTGAGE 30 Year Conventional Loans silver
    Show all (4) awards

    Relative Rate

    First American Mortgage's average 30 year fixed mortgage rate was 5.06%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.3%.

    Relative Fees (Closing Costs)

    First American Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $5,504.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    OKLAHOMA CITY, OK (FHA|USDA|VA) 258 $67,160,000 $260,310 $5,587 5.03%
    Outside of Metro Areas 11 $2,265,000 $205,909 $4,608 5.56%
    Weatherford, OK (FHA|USDA|VA) 5 $1,055,000 $211,000 $3,675 5.22%
    TULSA, OK (FHA|USDA|VA) 5 $985,000 $197,000 $3,867 5.38%
    Shawnee, OK (FHA|USDA|VA) 3 $745,000 $248,333 $3,212 4.63%
    LAWTON, OK (FHA|USDA|VA) 2 $620,000 $310,000 $5,986 4.50%
    Ardmore, OK (FHA|USDA|VA) 1 $65,000 $65,000 $2,175 5.75%
    First American Mortgage's top markets include Oklahoma City, Weatherford, Tulsa, Shawnee, and Lawton among others.

    Their top states include:
  • Oklahoma (FHA|USDA|VA)
  • (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against FIRST AMERICAN MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    US Employees O.C. Federal Credit Union
    Similarity Rank: 188
    Municipal Employees Credit Union of Oklahoma City
    Similarity Rank: 312
    TRUE SKY
    Similarity Rank: 330
    TTCU Federal Credit Union
    Similarity Rank: 370
    American Bank of Oklahoma
    Similarity Rank: 374
    WEOKIE
    Similarity Rank: 528
    KS StateBank
    Similarity Rank: 600
    MORTGAGE CLEARING CORPORATION
    Similarity Rank: 676
    OKLAHOMA'S
    Similarity Rank: 776
    CWM PARTNERS, L.P.
    Similarity Rank: 777

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 190 $50,860,000 $267,684 $4,507 5.08%
    FHA 73 $15,455,000 $211,712 $7,409 5.05%
    VA 21 $6,315,000 $300,714 $7,096 4.87%
    USDA 1 $265,000 $265,000 $7,429 4.50%

    For 2022, First American Mortgage's most frequently originated type of loan was Conventional, with 190 originations. Their 2nd most popular type was FHA, with 73 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 245 $60,545,000 $247,122 $5,277 5.06%
    Refi 20 $7,780,000 $389,000 $6,532 4.96%
    Cash Out Refi 20 $4,570,000 $228,500 $6,510 5.12%

    For 2022, First American Mortgage's most frequently cited loan purpose was Home Purchase, with 245 originations. The 2nd most popular reason was Refi, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 274 $70,460,000 $257,153 $5,504 5.06%
    15 Year 7 $1,645,000 $235,000 $4,258 4.84%
    10 Year 2 $460,000 $230,000 $4,104 5.00%
    20 Year 2 $330,000 $165,000 $3,766 4.63%

    For 2022, First American Mortgage's most frequently cited loan duration was 30 Year, with 274 originations. The 2nd most popular length was 15 Year, with 7 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 171 $46,035,000 $269,211
    $1k-2k 43 $8,355,000 $194,302
    $5k+ 23 $8,515,000 $370,217
    $2k-3k 19 $3,115,000 $163,947
    $3k-4k 18 $4,430,000 $246,111
    $4k-5k 11 $2,445,000 $222,273

    First American Mortgage's average total fees were $5,504, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 171 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 97 $24,295,000 $250,464
    4-5% 70 $17,310,000 $247,286
    3-4% 56 $15,940,000 $284,643
    6-7% 43 $10,805,000 $251,279
    2.5-3% 10 $2,570,000 $257,000
    7-8% 9 $1,975,000 $219,444

    During 2022, First American Mortgage's average interest rate for loans was 5.06%, while their most frequently originated rate bucket for loans was 5-6%, with 97 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 139 $38,555,000 $277,374 $5,501 4.90%
    $100k-200k 96 $14,910,000 $155,313 $4,781 5.11%
    $400k-600k 28 $13,280,000 $474,286 $9,347 5.31%
    $100,000 or less 14 $1,140,000 $81,429 $2,856 5.77%
    $600k-1MM 8 $5,010,000 $626,250 $3,554 4.81%

    2022 saw First American Mortgage place emphasis on $200k-400k loans with 139 originations, totaling $38,555,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 69 $19,465,000 $282,101 $5,660 4.95%
    $50k-75k 65 $13,005,000 $200,077 $5,015 4.94%
    $75k-100k 54 $13,350,000 $247,222 $5,792 5.18%
    $150k-250k 51 $17,825,000 $349,510 $6,230 5.28%
    $50k or less 30 $4,180,000 $139,333 $4,416 4.97%
    $250k+ 16 $5,070,000 $316,875 $4,638 5.02%

    First American Mortgage lent most frequently to those with incomes in the $100k-150k range, with 69 originations. The second most popular income band? $50k-75k, with 65 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 65 $15,955,000 $245,462 $5,649 5.03%
    20-30% 60 $14,800,000 $246,667 $4,858 5.14%
    44% 20 $5,610,000 $280,500 $5,236 5.50%
    40% 14 $4,210,000 $300,714 $5,610 5.02%
    39% 14 $3,020,000 $215,714 $4,873 4.67%
    41% 13 $3,105,000 $238,846 $7,085 5.33%
    <20% 12 $2,950,000 $245,833 $4,767 4.74%
    42% 11 $2,745,000 $249,545 $5,889 5.02%
    38% 11 $3,035,000 $275,909 $7,151 4.77%
    47% 10 $2,490,000 $249,000 $7,029 5.14%
    43% 10 $2,750,000 $275,000 $4,267 5.27%
    45% 9 $2,495,000 $277,222 $6,692 4.21%
    37% 9 $2,485,000 $276,111 $4,138 4.80%
    48% 8 $1,780,000 $222,500 $6,292 5.48%
    46% 7 $2,075,000 $296,429 $4,021 4.89%
    36% 6 $1,710,000 $285,000 $4,167 5.56%
    49% 4 $1,170,000 $292,500 $3,984 5.22%
    50-60% 2 $510,000 $255,000 $10,463 4.25%

    First American Mortgage lent most frequently to those with DTI ratios of 30-36%, with 65 originations. The next most common DTI ratio? 20-30%, with 60 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 236 $62,500,000 $264,831 $5,409 5.02%
    American Indian 17 $3,725,000 $219,118 $6,835 5.67%
    Not provided 19 $3,705,000 $195,000 $4,660 4.87%
    Black 7 $1,575,000 $225,000 $6,162 5.05%
    Asian 5 $1,145,000 $229,000 $5,147 5.40%
    Chinese 1 $245,000 $245,000 $3,526 5.50%

    Approval Rates

    Total approvals of all applications
    98.03%

    First American Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    77.89%

    First American Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 285 $72,895,000 $255,772

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    285 $72,895,000 $255,772

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $455,000 $91,000 $3,318 6.12%
    40-60% 20 $3,370,000 $168,500 $4,222 5.36%
    60-80% 74 $18,810,000 $254,189 $5,168 4.97%
    80-100% 181 $49,085,000 $271,188 $5,637 5.04%
    Over 100% 4 $1,120,000 $280,000 $11,467 4.38%
    Under 20% 1 $55,000 $55,000 $4,032 4.99%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST GUARANTY MORTGAGE CORP Conventional home mortgage Struggling to pay mortgage 1 100.0%